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Small lenders battered by wealth product rules

Share prices for all mainland banks fell, with smaller banks the worst hit. The Big Four fell between 0.1 and 2.1 per cent, with Agricultural Bank of China down the most. ABC closed at HK$ 3.72, down 2.1 per cent from Wednesday. Small lenders took major hits because they have a higher concentration of non-standard wealth management products subject to the measures. China Minsheng Bank fell 7.9 per cent to close at HK$ 9.89. China Citic Bank and China Merchants Bank both shed more than 4 per cent.


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